We had over 30 people attend the presentation by Gail Bebee "Ten Common Investor Ills and How to Cure Them". Below is her summary sheet and you can always check out her website at www.gailbebee.com
Ten
Common Investor Ills and How to Cure Them
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1 Not having a financial plan
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Ask your
financial advisor to prepare a plan, hire certified financial planner or do-it-yourself
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2 Too much debt
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Stop
spending! Find money in budget and set up a schedule to pay off debt ASAP
especially outstanding credit card balances
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3 Missing out on free money from the government
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Consider
Tax Free Savings Accounts and Registered Education Savings Plan
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4 Not paying yourself first
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Set up automatic
payday transfer from bank account to savings account. Or join workplace
savings plan.
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5 Accepting your financial advisor’s
recommendations without question
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Choose
your financial advisor carefully and independently assess his/her recommendations
before making a decision
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6 Not kicking the tires before you buy a
mutual fund
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Before
buying a mutual fund, review fund company information and do your own
research using independent sources
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7 ignoring the impact of income tax on your
returns
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Know how
your profits are taxed and invest accordingly
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8 Unrealistic expectations on return rates
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Get real
about investment return rates and plan accordingly
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9 Taking the ostrich approach to planning for retirement
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Start
planning for your retirement now
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10 No emergency fund
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Set aside
at least 3 months expenses in liquid investments
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